Why AST SpaceMobile Stock Dropped 8% on Monday
Earlier this month I warned you that SpaceX's growing ability to offer direct-to-cell (DTC) communications, connecting calls between ordinary off-the-shelf cellphones through the use of Starlink satellites with no cell towers required, posed a clear and present danger to the business model of AST SpaceMobile (NASDAQ: ASTS) -- which invented the concept.
Less than two weeks later, it's become clear that the danger is even bigger than I at first realized.
Investors are realizing this now, too, in the wake of SpaceX's latest Starlink launch -- and AST SpaceMobile stock is already down 8.3% through 10:45 a.m. ET.
Source Fool.com
